diff --git a/CHANGELOG.md b/CHANGELOG.md
index a3f2954b..d51d6d22 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -44,6 +44,12 @@ Versioning](https://semver.org/spec/v2.0.0.html).
   library to replace Boost.Asio.
 - Fixed a deprecation warning in the Meson build, causing the minimum supported
   Meson version to be bumped up to **Meson 0.56** from 0.55.
+- LTO has been explicitly enabled for all of the library targets. LTO doesn't
+  work with the plugin host Winelib binaries because of the way winegcc works,
+  but it's still useful for the plugin libraries so the option is now explicitly
+  enabled in the Meson build file for those targets. This is especially
+  important for the new chainloader libraries as they will otherwise pull in a
+  lot of code they don't actually need.
 
 ## [3.8.1] - 2022-03-08
 
diff --git a/meson.build b/meson.build
index 691f761a..92d07f14 100644
--- a/meson.build
+++ b/meson.build
@@ -254,6 +254,11 @@ shared_library(
     tomlplusplus_dep,
   ],
   cpp_args : compiler_options,
+  # LTO currently doesn't work with winelibs, so instead we'll explicitly enable
+  # it for all other targets (which is extra important for the chainloaders as
+  # they'd otherwise pull in a bunch of unused symbols) without affecting the
+  # Wine plugin host binaries
+  override_options : ['b_lto=true'],
 )
 
 if with_vst3
@@ -278,6 +283,11 @@ if with_vst3
       vst3_sdk_native_dep,
     ],
     cpp_args : compiler_options,
+    # LTO currently doesn't work with winelibs, so instead we'll explicitly
+    # enable it for all other targets (which is extra important for the
+    # chainloaders as they'd otherwise pull in a bunch of unused symbols)
+    # without affecting the Wine plugin host binaries
+    override_options : ['b_lto=true'],
   )
 endif